Mears builds on £500m social housing wins

With an order book of £2.5bn the housing specialist says 91% of year's turnover is secured

Social housing repair and maintenance specialist Mears has said it is well-positioned to benefit from government spend in the sector, having won over £500m of contracts since January.

In a trading update this morning, the £470m-turnover company said its order book stood at £2.5bn with 91% of turnover for the current financial year already secured.

Chairman Bob Holt said: “We continue to see unprecedented levels of opportunity within the public sector. We believe that the demand and opportunity for our two growth markets will continue to be strong and that Mears is well placed to benefit from this.”

Its recent wins in the social housing arena include a £200m deal with Brighton & Hove council and a £300m deal with the Family Mosaic housing association in London and the Home Counties.

The statement added: “Mears’ social housing division is well positioned in this growing market where the demand for long-term, broadly-based service provision remains strong and plays to Mears' strengths as a market leader.”

It also said its domiciliary care business had performed well, with nine contract wins since the start of 2010.